A little bit of schadenfreude to start your day. In Giuliani's case, too bad there isn't still a thing called debtor's prison.
Source: Bloomberg
Rudolph Giuliani’s homes in New York and Florida may be put up for sale to help bring in cash as he works through his bankruptcy, attorneys say.
The former New York mayor is facing nearly $153 million in debt, the bulk of which stems from a $148 million defamation judgment awarded to two Georgia poll workers he accused of rigging 2020 election results. Giuliani has reported having $10.6 million in assets.
A proposed listing agreement for Giuliani’s New York condominium is being fine-tuned, Heath Berger of Berger Fischoff Shumer Wexler & Goodman LLP said Wednesday during a status conference in the US Bankruptcy Court for the Southern District of New York. Giuliani’s Manhattan condo is valued at around $5.6 million, according to recent financial disclosures.
A committee representing Giuliani’s unsecured creditors, including the poll workers, is working to get his Palm Beach, Fla., house on the market as well. The home is valued at $3.5 million, according to court papers. The committee is in talks with Giuliani about the Florida property, Philip Dublin of Akin Gump Strauss Hauer & Feld LLP said in court Wednesday.
Dublin said the Florida home isn’t subject to the state’s homestead exemption that protects a debtor from being forced to sell a home in bankruptcy, but didn’t provide further explanation. He didn’t immediately respond to a request for comment Wednesday.
“If we are unable to convince the debtor to list that property, then we will come to the court on that issue,” Dublin said.
